Having an experience of more than 20 years, Sandiip Kapur is an advertising entrepreneur, producer of Bollywood films and planner of celebrity weddings.

In the last few years, changing tastes and profiles of the 21st century consumers are rapidly trans-forming how businesses are being done and how companies approach marketing. It's evident that entering the digital space is essential for the survival of business right now. While Covid-19 has put a halt to most business activities, a handful of things, namely OTT (over-the-top) platforms, online gaming, and online education video conferencing platforms picked up pace during the lockdown. Currently, in the wake of the pandemic, the marketing space is witnessing an explosive growth in digital content consumption. Now, adopting OTT as a marketing channel is the way for marketers to put their best foot forward.

What is OTT and what are its prospects?
OTT refers to video content delivered straight to the consumer via an internet connection, rather than a cable or satellite provider. Most OTT providers have their websites and apps where users can log in to ac-cess the content available with the subscription. A growing number of consumers continue to cut their cable television cord and flow towards streaming services, smart TVs, and other OTT devices. According to e-Marketer, the number of cord-cutters will reach 55.1 million by 2022, up from an estimated 39.1 million this year. OTT adoption is expected to leap from 170.1 mil-lion to 197.7 million during the same period.

Thanks to precise targeting, ads displayed on OTT websites and apps are relevant to consumers, leading to an increased level of engagement

How is OTT reshaping the marketing space?
OTT, which has become a staple for Indian youngsters and adults, has given rise to advertising video-on-demand, which is the usage of these platforms for marketing through video-based content available on them. OTT platforms such as Netflix, Amazon Prime Video, Vimeo, Hulu has opened new pathways for marketers to reach their audiences making it one of the most profit-generating sources. Here's why it's time for brand marketers to wake up to the marketing opportunities OTT presents and set aside their budgets for the same:

• Thanks to precise targeting, ads displayed on OTT websites and apps are relevant to consumers, leading to an increased level of engagement. The ads there often feel like part of the program, making people actually listen to the advertisements. Thus, OTT adds more brand awareness and favorability to ads compared to other forms of advertisement. According to the Video Advertising Bureau's 2018 report, thirty-four percent of OTT-streaming viewers say their second-screen activity is completely or mostly related to the program or commercials. The report also highlights twenty-five percent of ad-supported OTT viewers say they buy more products directly from the brand online versus in stores.

• OTT allows for real-time targeting of custom, complex audiences and offer much finer-grained measurement and performance tracking compared to traditional TV advertising. Mobile measurement platforms (MMPs) and OTT providers are now offering tools that allow OTT app marketers to at-tribute app installs, registrations, and utilize data and audience insights provided by OTT.

• According to a report by Freewheel, over one-third of OTT visits are over an hour-long, and viewers complete 98 percent of all premium video ads. Companies can enjoy better ROI, which will undoubtedly follow the increased level of engagement.

• The OTT platforms strive to serve engaging con-tent, which leads to binge-watching and consequently increased user exposure to advertisements. If ad frequency is well-managed, several ads can be rolled out throughout the duration of the show. Thus, consumers will be more likely to listen to multiple ads without complaint.

• Users find ads annoying when the same ad keeps popping up again and again while watching a show. This is why they often employ ad-blockers to clear out the noise or simply click the "skip ad" button. However, it's possible to make the ads a lot less repetitive by keeping the roster of ads and roll them out in rotation to a specific user on an OTT platform.

A PWC report indicates that the Indian OTT video market will grow from INR 4464 Cr in 2018 to INR 11976 Cr in 2023, at a CAGR of 21.8 percent. Another report by KPMG India & EROS Now indicates that 80 percent of those who subscribe to OTT platforms have said that their entertainment needs are met by OTT platforms and 38 percent of these users are ready to shift from traditional content viewing mediums such as TV. OTT, which offers premium ad opportunities, viewer engagement, and message reinforcement to advertisers and brands is gradually becoming the most preferred platform for entertainment in India and brands and advertisers can't afford to miss the proverbial boat.